[V]

Last time i looked at home prices in Bergen Country NJ was winter/spring 2007. I learned a lot about realty then and all whats involved etc. However at that point i chose not to buy a home just yet and ended up joining the military.
Now 2.5 years later, i starting to think about getting a home in the next 2 years, and for the hell of it, i decided to look through listings online in the same areas where i looked back in 2007.
I was shocked at how much home prices have fallen in 2 years in my area.
I know most of NJ and other parts of the country always had prices much less than northeastern nj, so prices here may still seem high to people from outside the area.
For example, 4 houses up my street, in 2007 a house was selling for 555,000. yes, and it was just a 3bed 2 bath, with a detached 1 car garage and no real property. It is STILL listed but now at around 350,000. Thats a drop of 200,000 is just 2 years! I did NOT expect that.
Has prices all over NY/NJ drop by this much or close?
In 2007 finding a house for under 400k was impossible in my area, now they go all the way down to 250k.... wow.
Id be looking to buy between nov '11-jan '12. and i'd prefer to stay in bergen county near friends and family, maybe id consider hudson country or over the ny border into rockland co.

I'm just still amazed by the drop in values. Hopefully the taxes dropped as well....